Core Allocations are Almost Utility-Maximal
研究在大型经济中,当偏好非凸时,核心配置是否接近效用最大化。作者给出了确保核心配置几乎在预算集内最大化效用的充分条件。
It is known that in large economies with strongly convex preferences, the commodity bundles agents receive at core allocations are near their demand sets. Without convexity, it is known that agents' bundles need not be near their demand sets, although these bundles are demand-like in the sense that they satisfy a perturbation of the definition of demand. In this paper, the author gives sufficient conditions to ensure that core allocations almost maximize utility over the agents' budget sets. Copyright 1990 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.